Review of $DJI - YM Mini Dow Jones FUTURES ($DJI)
as of Thursday, November 18, 2010
Today's Price Action
Change 173.3506 (1.57%) prices closed higher than they opened. with strong Bids going into the close.This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area , the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: -18.86
Swing Vix: -14.25
The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed below the Swing Vix creating a DOWN Trend Channel as of 5 period(s) ago. RALLY ALERT - (Short-term Market Bottom) Possible Breakout is likely due to strong market pulse projectionsThe Swing Vix is not currently in a topping (above 39) or bottoming (below -39) range.
A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area.
*The last signal was a Over-Bought Sell 4 period(s) Ago.
The Swing Vix has just reached its lowest value in the last 14 period(s). This is bearish.The Swing Vix has set a new 14-period low while the security price has not. This is a bearish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if downside pressure develops.
*Since the last Swing Vix signal, $DJI - YM Mini Dow Jones FUTURES's price has decreased 1.55%, and has ranged from a high of 11,366.1602 to a low of 10,978.9297.
MOMENTUM
MARKET TREND - Currently the TREND is VERY-BULLISH - Heavy Accumulation.
TREND STRENGTH - STRONG - Bullish Trend,
TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. - 10,532.9258
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. - 10,396.6709
The close is currently Above it's Intermediate Term TRENDLINE RETRACEMENT. - 10,928.9697
The close is currently Below it's Short Term TRENDLINE RETRACEMENT. - 11,176.9424
INTRADAY PRICE PROJECTIONS
RESISTANCE 11,157.0869
SUPPORT 11,052.9443
WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE - 11,451.5303
PulseWave BreakOut SUPPORT - 10,978.9297
MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET = 13,288.7402
Long term Trend Line resistance is currently at - 11,451.5303
Long term Trend Line support is currently at - 10,532.9258
MONTHLY PRICE PROJECTIONS
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET = 18,800.3711
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET = 16,963.1602
BUBBLE PHASE I - (24-36mo) PRICE TARGET = 15,125.9502
VOLATILITY
On 11/18/2010, $DJI - YM Mini Dow Jones FUTURES closed
above the lower band by 44.5%.
General Advice Disclosure:
Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser. This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents.
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